Today we’ll tackle the most challenging and complex problems you need to solve using Excel’s scatter graph option. I find the bubble option most appealing. The default solution to your data will provide a 3D visual. For me, looking at a large table of data is hard to visualize a solution. This tool best represents the expression “a picture is worth a thousand words.”
I’ll provide two examples in my video, and the first would be used to address any decision that involves a listing of options with at least three critical variables. Consider the various products or services offered by your business. Are you covering the range demanded by your customers?
The restaurants’ portfolio is offered with the following three dimensions: the price of meals, casualness (casual or upscale), and the number of seats per restaurant. From the bubble chart, you can visualize a gap in your offering and fill the gap with a solution that best solves all dimensions. To step up the graphic, you can change the color of the bubbles to represent another variable to add the 4th dimension. Finally, you could add a line surrounding the bubble to define the 5th dimension.
The second example is more complex; it tackles a portfolio of IT artificial intelligence projects. The deliverable will provide a visual of 15 project types with as many as 5 dimensions of variables. You’ll note there is some background music for inspiration for this example.
The IT artificial intelligence project output helps you grasp the data to make a much more informed decision about how to prioritize your projects given the constraints of your time and budget. What can you accomplish that will deliver the most effective results for your organization.
The often biggest challenge is deciding how to organize the visual for your problem. While many details are often known, you may need to assign subjective ranking scores to create your portfolio illustration. Once you see the result of graphing the data, you’ll understand the usefulness of the X Y Scatter graph in Excel.
I hope you consider downloading and using the Excel template provided below the video.